Guideline Value for Royal Garden & Annexe

Royal Garden & Annexe guideline value

The current guideline value of Royal Garden & Annexe in Kobarasanallur village is Rs 1,980 per sq.ft, effective from 1 July 2024. This property falls under the Kunrathur SRO and is classified as Mixed Special Type - II.

How the guideline value of Royal Garden & Annexe has changed

The guideline value for Royal Garden & Annexe has seen several revisions over the years. The earliest recorded figure is from 2007, at Rs 1,224 per sq.ft. This increased to Rs 1,800 per sq.ft in 2012, marking a rise of 47%. However, by 2017, the value dropped to Rs 1,206 per sq.ft, reflecting a decrease of 33%. The value then rose significantly to Rs 1,800 per sq.ft in 2023, and most recently, it has increased by 10% to the current rate of Rs 1,980 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 62%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kobarasanallur

Kobarasanallur has 28 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,180 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, which is the same as the guideline value for Royal Garden & Annexe. Below are other streets in Kobarasanallur:

• Royal Castle: Rs 1,980 per sq.ft (2024)
• R.T.R.Avenue: Rs 3,285 per sq.ft (2024)
• Poonamallee High Road: Rs 4,180 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,980 per sq.ft (2024)
• Sree Hari Nagar: Rs 2,750 per sq.ft (2024)
• Sri Devi Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Garden & Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Royal Garden & Annexe?

The Royal Garden & Annexe is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kobarasanallur

The guideline value is a crucial factor in property transactions in Kobarasanallur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Royal Garden & Annexe?

The current guideline value of Royal Garden & Annexe is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,224 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 62% over the years.

What is the land classification for Royal Garden & Annexe?

Royal Garden & Annexe is classified as Mixed Special Type - II, which indicates its zoning and permissible uses.

Where can I find the registration office for Royal Garden & Annexe?

The registration office for Royal Garden & Annexe is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Kobarasanallur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600.